Zodiac Recreational Acquired by OpenGate Capital

Press Release
Tuesday, January 08, 2013
Zodiac N-ZO 700: Photo credit Zodiac/Bernard Biancotto

OpenGate Capital, LLC, a private investment and acquisition firm, acquires Zodiac Recreational from Zodiac Marine & Pool.

Zodiac Recreational designs, manufactures and distributes inflatable and Rigid Inflatable Boats (RIBs). Zodiac is a recognized brand in the nautical industry with an extensive range of products including RIBs, recreational tenders, inflatable boats, jet tenders, life rafts, and related boat accessories as well as two other branded lines of products, Bombard and Avon.

The acquisition of Zodiac Recreational included two other business units, stratospheric balloons and multi-layer insulation, both of which serve the aerospace industry. Zodiac Recreational employs 430 people throughout its main operations in France, Tunisia and the in the U.S., as well as its sales offices located in Spain, Italy, Germany, the United Kingdom and Canada.

Mr. Andrew Nikou, OpenGate Capital’s founder, Managing Partner and CEO, stated, “Zodiac Recreational joins the OpenGate portfolio, our family of businesses, at an opportune time of disciplined growth and expansion. We continue to seek out businesses around the world that can benefit from our operational strategies, and Zodiac Recreational has all the characteristics and challenges that we see as opportunities for growth. We are confident that given the Zodiac brand heritage, extensive dealer network, and continued strong demand for the Company’s product range, we can leverage these strengths to create a much stronger and vibrant business than ever before.”

OpenGate Capital, LLC is a global private investment firm specializing in the acquisition and operation of businesses seeking revitalization through growth and operational improvements. The terms of the transaction were not disclosed.

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Euronav Books Profit from Sale of Chartered Ship

The owner of the 157,258 dwt containership Cap Isabella (built 2013), a vessel which Euronav had on bareboat charter, decided to sell the vessel to an unrelated third party.

Livanos Becomes Euronav Chairman

On 22 July 2014, the Board of Directors of Euronav NV unanimously appointed Peter G. Livanos as Chairman of the Board, with immediate effect in replacement of Marc

MN 100: Scania USA Inc.

121 Interpark Blvd. Ste. 1002 San Antonio, Texas 78216 Tel: (210) 679-3126  Email: smurdock@scaniausainc.com Website: www.scaniausa.com President & CEO:

Contracts

MacGregor Wins Stena RoRo Conversion Job

MacGregor, part of Cargotec, has received a contract from Stena North Sea Ltd. to convert the 29,800gt RoPax ferry Dieppe Seaways to optimize it for its new route

SBI Offshore Negotiating Contract for Rig Builds

SBI Offshore Limited has announced that the Middle East-Chinese consortium, which recently awarded its subsidiary a contract to provide design and engineering services for a jack-up drilling rig,

Brazilian PSVs Get Rolls-Royce Offshore Cranes

Rolls-Royce signed a contract with Detroit Chile SA to supply offshore cranes to nine Platform Supply Vessels (PSVs) presently under construction at Detroit Brasil Ltda.

Finance

Euronav Books Profit from Sale of Chartered Ship

The owner of the 157,258 dwt containership Cap Isabella (built 2013), a vessel which Euronav had on bareboat charter, decided to sell the vessel to an unrelated third party.

EU to Help Italy Cope with Boat Migrants

The European Commission said on Wednesday it would launch an EU version of Italy's sea rescue operation to help it deal with the droves of migrants crossing the

Governors Write Obama for Mississippi River Funding

Governors seek President Obama’s support for upper Mississippi River commercial navigation locks and ecosystem The Governors of the five Upper Mississippi River States of Illinois,

Yachts

Two Rescued from Disabled Boat near Niagara Falls

The U.S. Coast Guard (USCG ) rescued two people from a disabled boat near Niagara Falls late Monday night. At about 9:15 p.m., a search-and-rescue (SAR) coordinator from USCG Sector Buffalo,

Self-Pilot Personal Submarine to Launch in Monaco

DeepFlight announced it will introduce a new type of personal submarine at the 2014 Monaco Yacht Show. The company said its new product, the DeepFlight Dragon, is the most compact,

Triton’s Yacht-based Submersible to Debut in Monaco

New lightweight, low profile Triton 1000/3 LP designed specifically to fit into existing yacht tender garages. Triton Submarines (Triton) announced that it will introduce its newest model,

Mergers & Acquisitions

CEVA Expanding Presence in Southern California

CEVA Logistics, one of the world’s leading supply chain management companies, today announced plans to expand its presence in the San Diego market with a new

Transnet National Ports Authority Orders 9 Voith Water Tractors

In South Africa’s largest local shipbuilding contract Transnet National Ports Authority has ordered nine new Voith Water Tractors (VWT) for use in several ports across the country.

Rolls-Royce Acquires Power Systems Unit

Rolls-Royce today announced the completion of its acquisition of Rolls-Royce Power Systems (RRPS).  The move follows an announcement made on March 7, 2014 that

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1811 sec (6 req/sec)